Updated over 4 years ago on . Most recent reply
How to purchase and flip my parents home through my business?
Long story short, my dad passed away in 2006. My mom lives in the home which is 4BR/3.5 bath, finished basement and about 4200 sqft. She owes roughly $278k on the primary and is behind on the 2nd mortgage (about $40k) my dad took out before he died. She also is behind on the HOA for about $7-$8k. She can no longer maintain the home or payments by herself. (ARV in her area right now is around $500k)
What is the best a way that I can purchase the home through my LLC, fix what needs to be fixed (Paint, Carpet) and use what's left over to bring her out here where I live?